Streamline Your Property Investment - Calculate Your Borrowing Capacity
One of the most pressing questions for first home buyers entering into the property market is figuring out how much can I borrow? After all, this is a hugely influential piece of information to have when narrowing down your real estate search.
Your borrowing capacity is influenced by a number of different factors - and not all of them have to do with your savings.
Income, expenses and your credit rating all play a role in a lender's decision, although not all lenders have the same criteria necessarily.
Checking out an online calculator before heading to see a lender should give you a rough idea about your financial standing - the process is quick, free and easy. It should give you a basis to start your preliminary search for property.
Setting up a meeting with a mortgage broker will allow you to get a more specific evaluation. This is also a free assessment and can help you sort through the many different home loan options available to you.
Looking for your dream home takes time and effort - streamlining the financial process will help to give you some peace of mind throughout.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.